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rates. we are thestreet.com. >>> stocks are hot but the economy is not. what does it mean for your investments. >>? plans can led, sticker shock anded to a white house official on capitol hill was asked to explain why millions may not be able to keep insurance plans. >>> and one your later, on the anniversary of hurricanesandy, helping homeowners keep heads above water. that and more tonight on "nightly business report" for tuesday, october 29th. >>> good evening everybody and ç welcome. on this day in 1929 the stock market crashed and 20 points meant 12%. today, 84 years later the dow closed at a record high and the s and a 500 and the mid cap 400. call it green tuesday, if you'd like and some economic indicators market pros watch are flashing yellow, maybe even red. more on that in a moment. here for the record are the numbers on wall street today. a day of historical irony as the policy makers convene to discuss the economy and what to do without it. the dow with a last-hour sprint was 111 points and nasdaq gained 12 and s&p add add 10. >>> investors bought up stocks. retail sa
to continue the massive bond buying program to give the u.s. economy a boost. wrapping up a two-day meeting policy makers at the central bank forecast weaker growth ahead and said the fed will continue the stimulus program and keep the key interest rate at 0%. the fed's state signalled the economy continues to improve but only modestly. >>> investors poured over the statement and seemingly didn't find much to hold on to. stocks set out records yet, maybe they were just tired today and that's why they sold off. probably as good an explanation as any. the dow 61 and nasz deck off 21 and s&p lower by eight. treasury notes were low and yields sparked higher at 2.54%. >>> joining us more to talk about the fed meeting, david kelly, chief global strategist at jp morgan fund. no surprises on that fed decision. even was expecting it but there was speculation one of the reasons the marketsç stayed in the minus column was that there was speculation that maybe ben bernanke will begin this whole tapering thing before he steps down as chief any time between december and january. what do you think? >> i
is a competitive market and the concern is if this economy plateaus or doesn't continue growing at the clip it's been growing at, will they have to put more money to goose the sales? >> all right. we'll keep watching. phil, thanks so much. >>> well, it is a new month and on wall street, day one was a good one for stocks. the markets got a big boost from a surprisingly strong read on u.s. manufacturing in october. it rose at the fastest pace in 2.5 years. all major averages avoiding a third consecutive day of loses with stocks rising into the close, the dow up nearly 70 points, nasdaq added two, the s&p 500 was up five. rates on the ten-year treasury note rose steadily all session long closing up at 2.6%. >>> time for the central bank to phaseout the stimulus program. charles plauser said the feds should have begun tapering back at its meeting earlier this week. >> i thought we kind of missed an opportunity to make a small gesture to signal the fact this is a dial we can promove and adt it and fine tune it, if you will. >> he suggested setting a maximum dollar amount instead of sticking to the
and everybody got paid. earnings a mixed bag with enough treats to balance out the tricks and the economy is okay. >> the economy is still growing at roughly 2%. so i think it's fairly resilient. we would have actually been growing faster. >> reporter: all and all a pretty good recipe for stocks in a month that's turned its reputation for being unfriendly to equity investors. there was october 1929 of course, the market fell more than 20% ushering in the great depression. there was 1987. the dow crashed 23% in a day and in 2008, the dow was down 28% for the month despite the index' biggest one-day gain ever, more than 936 points on october 13th. this year, of course, it's different. record highs for the dow up 3%. the s&p 500 up almost 5%. the russell 2,000 nearly 3% higher and nasdaq with a gain of 4% this month is higher than its been in 13 years. investment trick or treat. >> try not to think about the levels because it scars you. >> i'm getting more nervous. i'm fighting the greedy monos. >> reporter: so what happens from here? that naturally is anybody's guess really. season nalty is
to anyone. the sharing economy. worth an estimated 26 billion dplars. it was a quick wdla. an esy way for people around the world to rent out their room. for $58 a night, you get your own bedroom, bathroom and breakfast in the morning. >> are you ever afraid? >> not enough to keep people hosting. and then this's ride sharing. making an average of $250 a month. or if you don't trust strangers with your car, you could give them a ride and become your own temporary taxi service. >> using kpaeps like lift and side cars. >> hey, where are you head snd. >> airport. >> hop on in. ever heard of task sharing? task rabbit allows you to run all kinds offer rands in your neighborhood. j just think twice if it's going to be right for you. for "the list ", i'm ariel spgs wexler. >> we watched all the late-night talk shows and ruled out the day's best punch lines in the news. >> i don't think most people are aware of this when they realized that very few of their kids were diabetic. in 2001, they were given access to any tangible thing. that's the phrase that's in the patriot's act. some grocery sto
of the economy, he says the federal government moves with the adaptability of a koala, without being anywhere near as cute. >>> meanwhile, washington says they need to borrow more money, $2 billion more than forecast for the quarter, expected to issue $266 billion of new debt. the treasury also says it is expected to issue another $265 billion in debt for the january to march fiscal quarter. >>> and with the major stock averages near record highs and so much money going into equities, a lot of money is coming out of bond funds. so much so that now bill gross' pimco total return fund is no longer the world's biggest mutual fund. they reported $4.4 billion worth of outflows for the quarter, the sixth consecutive month of draws. it is still the world's largest bond fund. >>> and millions heading out without breakfast, they are forcing kellogg to cut 7% of its work force. profits still rose last quarter and shares rose a fraction higher today. dominic shue takes a look at cost savings for the company. >> reporter: those job cuts are a result of slowing business at one of the nation's biggest food
Search Results 0 to 16 of about 17 (some duplicates have been removed)